Mackay Shields LLC Has $43.63 Million Stock Holdings in American Tower Corp (NYSE:AMT)

Mackay Shields LLC lessened its stake in shares of American Tower Corp (NYSE:AMT) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 189,846 shares of the real estate investment trust’s stock after selling 17,897 shares during the period. Mackay Shields LLC’s holdings in American Tower were worth $43,630,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AMT. BlackRock Inc. lifted its position in shares of American Tower by 4.0% during the second quarter. BlackRock Inc. now owns 31,549,686 shares of the real estate investment trust’s stock worth $6,450,332,000 after purchasing an additional 1,213,664 shares in the last quarter. AdvisorNet Financial Inc lifted its position in shares of American Tower by 136.5% during the third quarter. AdvisorNet Financial Inc now owns 175 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 101 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of American Tower by 0.3% during the third quarter. Janney Montgomery Scott LLC now owns 65,377 shares of the real estate investment trust’s stock worth $14,457,000 after purchasing an additional 228 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of American Tower during the third quarter worth $259,000. Finally, Municipal Employees Retirement System of Michigan lifted its position in shares of American Tower by 1.5% during the third quarter. Municipal Employees Retirement System of Michigan now owns 6,200 shares of the real estate investment trust’s stock worth $1,371,000 after purchasing an additional 90 shares in the last quarter. Institutional investors own 86.79% of the company’s stock.

AMT traded down $6.13 during trading on Friday, hitting $226.80. The company had a trading volume of 5,188,086 shares, compared to its average volume of 1,782,431. The company has a market cap of $107.49 billion, a PE ratio of 53.62, a P/E/G ratio of 1.56 and a beta of 0.40. The business has a 50-day moving average of $240.10 and a 200-day moving average of $225.72. The company has a debt-to-equity ratio of 5.03, a current ratio of 0.52 and a quick ratio of 0.53. American Tower Corp has a 1-year low of $174.27 and a 1-year high of $258.62.

American Tower (NYSE:AMT) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.60). The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.93 billion. American Tower had a net margin of 24.90% and a return on equity of 32.51%. The company’s revenue was down 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 earnings per share. Research analysts forecast that American Tower Corp will post 8.41 earnings per share for the current year.

In other American Tower news, EVP Steven O. Vondran sold 1,261 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $229.68, for a total transaction of $289,626.48. Following the completion of the sale, the executive vice president now owns 28,705 shares in the company, valued at $6,592,964.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Samme L. Thompson sold 3,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $227.56, for a total transaction of $682,680.00. Following the sale, the director now owns 22,598 shares of the company’s stock, valued at approximately $5,142,400.88. The disclosure for this sale can be found here. Insiders sold 4,574 shares of company stock worth $1,043,846 over the last ninety days. 0.75% of the stock is currently owned by corporate insiders.

A number of research firms have recently commented on AMT. Credit Suisse Group reissued a “hold” rating and set a $265.00 target price on shares of American Tower in a research report on Wednesday. Citigroup boosted their target price on shares of American Tower from $234.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Morgan Stanley reissued a “hold” rating and set a $218.00 target price (up from $216.00) on shares of American Tower in a research report on Friday, November 22nd. Goldman Sachs Group raised shares of American Tower from a “neutral” rating to a “buy” rating and upped their price target for the company from $204.00 to $270.00 in a report on Monday, January 13th. Finally, KeyCorp upped their price target on shares of American Tower from $254.00 to $273.00 and gave the company an “overweight” rating in a report on Wednesday. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. American Tower has an average rating of “Hold” and an average target price of $231.00.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 171,000 communications sites.

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Institutional Ownership by Quarter for American Tower (NYSE:AMT)

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